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Undervalue clearance dents power loom sector

09
Mar '07
Power loom sector is on the verge of collapse and concrete steps, such as restriction on secondhand clothing imports from India, lifting of 6.5 percent customs duty on synthetic fibre, strict vigilance of unaccompanied baggage and under-invoicing, should be taken by the Government to revive industry.

Till now, about 65 percent of power looms have already shutdown because of undervalue clearance of fabrics and smuggling.

Delayed sales tax refund has caused financial problems and most of power loom are not operating in its full capacity.

In Faisalabad, power looms, which are solely depended on domestic market, are mostly shutdown and only export-oriented units are functional there.

Domestic consumption of textile is only 15 percent as production is highly export-dependent.

Moreover, woolen industry is also facing such situation as certain containers are released from Karachi port at a minimal rate of 70 percent per kilogram.

Experts believe that major changes should be made to revive power looms sector in order to satisfy local consumption requirement.


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